45,427 research outputs found
The gas chain: influence of its specificities on the liberalisation process. NBB Working Papers. No. 122, 16 November 2007
Like other network industries, the European gas supply industry has been liberalised, along the lines of what has been done in the United Kingdom and the United States, by opening up to competition the upstream and downstream segments of essential transmission infrastructure. The aim of this first working paper is to draw attention to some of the stakes in the liberalisation of the gas market whose functioning cannot disregard the network infrastructure required to bring this fuel to the consumer, a feature it shares with the electricity market. However, gas also has the specific feature of being a primary energy source that must be transported from its point of extraction. Consequently, opening the upstream supply segment of the market to competition is not so obvious in the European context, because, contrary to the examples of the North American and British gas markets, these supply channels are largely in the hands of external suppliers and thus fall outside the scope of EU legislation on the liberalisation and organisation of the internal market in gas. Competition on the downstream gas supply segment must also adapt to the constraints imposed by access to the grid infrastructure, which, in the case of gas in Europe, goes hand in hand with the constraint of dependence on external suppliers. Hence the opening to competition of upstream and downstream markets is not "synchronous", a discrepancy which can weaken the impact of liberalisation. Moreover, the separation of activities necessary for ensuring free competition in some segments of the market is coupled with major changes in the way the gas chain operates, with the appearance of new markets, new price mechanisms and new intermediaries. Starting out from a situation where gas supply was in the hands of vertically-integrated operators, the new regulatory framework that has been set up must, on the one hand, ensure that competitive forces can be given free rein, and, on the other hand, that free and fair competition helps the gas chain to operate coherently, at lower cost and in the interests of consumers, for whom the stakes are high as natural gas is an important input for many industrial manufacturing processes, even a "commodity" almost of basic necessity
Library purchasing consortia in the UK: activity, benefits and good practice.
Following a brief introduction in Section 1, Section 2 sets out the operational context of library purchasing consortia. A range of key factors have shaped recent developments in the four LIS sectors under consideration (FE, HE, health and public libraries); some have exerted a common influence over all (e.g. information technology, European Commission purchasing directives, new central government, decline in bookfunds); some are sector-specific (e.g. purchasing arrangements, regional administrative frameworks, collaborative partnerships). The structure and markets of the book and periodical publishing industry in the UK are reviewed, with attention paid to historical as well as more recent practice that has had an impact on library supply. Although each component of the LIS purchasing consortia jigsaw displays individual characteristics that have evolved as a response to its own environment, the thread that links them together is constant change.
Section 3 presents the results of a survey of identified library purchasing consortia in the four library sectors. It treats common themes of relevance to all consortia arising from information gathered by seminar input, questionnaire and interview. These include models of consortium operation, membership and governance, ‘typical’ composition of consortia in each sector, and links to analogous practice in other library sectors. Common features of the tendering and contract management process are elicited and attention paid to any contribution of procurement professionals. Finally, levels of consortium expenditure and cost savings are estimated from the published statistical record, which readily demonstrate in financial terms the efficiency of the consortial purchase model for all types of library in the United Kingdom.
Section 4 presents the results of a survey of suppliers to libraries in the United Kingdom of books and periodicals, the two sectors most commonly represented in current contracts of library purchasing consortia. It sets out in some detail the operating context governing the highly segmented activities of library booksellers, as well as that pertaining to periodicals suppliers (also known as subscription agents). Detailed responses to questions on the effects of library purchasing consortia on suppliers of both materials have been gathered by questionnaire survey and selected follow-up interviews. Results are presented and analysed according to supply sector with attention given to the tendering process, current contracts under way, cross-sectoral clientele, and advantages and inhibitors of consortia supply. Further responses are reported on issues of how consortia have affected suppliers’ volume of trade, operating margins and market stability as perceived in their own business, the library supply sector and the publishing industry. Finally, overall conclusions are drawn and projections made as to future implications for both types of library suppliers.
Section 5 synthesises findings, details enabling and inhibiting factors for consortia formation and models of best practice amongst consortia. The scope for cross-sectoral collaboration is discussed and found to be limited at present. Pointers are given for future activity
The gas chain : influence of its specificities on the liberalisation process
Like other network industries, the European gas supply industry has been liberalised, along the lines of what has been done in the United Kingdom and the United States, by opening up to competition the upstream and downstream segments of essential transmission infrastructure. The aim of this first working paper is to draw attention to some of the stakes in the liberalisation of the gas market whose functioning cannot disregard the network infrastructure required to bring this fuel to the consumer, a feature it shares with the electricity market. However, gas also has the specific feature of being a primary energy source that must be transported from its point of extraction. Consequently, opening the upstream supply segment of the market to competition is not so obvious in the European context, because, contrary to the examples of the North American and British gas markets, these supply channels are largely in the hands of external suppliers and thus fall outside the scope of EU legislation on the liberalisation and organisation of the internal market in gas. Competition on the downstream gas supply segment must also adapt to the constraints imposed by access to the grid infrastructure, which, in the case of gas in Europe, goes hand in hand with the constraint of dependence on external suppliers. Hence the opening to competition of upstream and downstream markets is not "synchronous", a discrepancy which can weaken the impact of liberalisation. Moreover, the separation of activities necessary for ensuring free competition in some segments of the market is coupled with major changes in the way the gas chain operates, with the appearance of new markets, new price mechanisms and new intermediaries. Starting out from a situation where gas supply was in the hands of vertically-integrated operators, the new regulatory framework that has been set up must, on the one hand, ensure that competitive forces can be given free rein, and, on the other hand, that free and fair competition helps the gas chain to operate coherently, at lower cost and in the interests of consumers, for whom the stakes are high as natural gas is an important input for many industrial manufacturing processes, even a "commodity" almost of basic necessity.network industries, gas industry, gas utility, liberalisation, regulation, deregulation, market structure, European gas supply, oligopoly, OPEG
Clearing the Hurdles: Steps to Improving Wages and Working Conditions in the Global Sportwear Industry
CCC_Clearing_the_Hurdles.pdf: 1032 downloads, before Oct. 1, 2020
Inflation targets and contracts with uncertain central banker preferences
inflation;central banks;uncertainty
What's the 'big deal', and why is it bad deal for universities?
At first sight the “big (or all-you-can-eat) deal” seems excellent value for libraries and their users, and represents the shining possibilities of the electronic age. A more thorough-going evaluation, however, exposes dangers for universities, their funders and publishers. This paper examines the big deal in the light of fundamental market conditions and suggests alternative models for procuring electronic resources. The roles and strengths of the players in the information supply chain are defined and traditional hard-copy procurement is analysed in terms of these roles and the concepts of authority, branding and monopoly. The fundamentals of procuring electronic resources and prevalent purchasing models are discussed in terms of the same roles and concepts. The advantages of the big deal are laid out - access to resources, low unit costs etc. The dangers are also discussed. These arise mainly from the publishers’ position as monopolists. The possible long-term effects, on library budgets and academic publishing, of dealing with monopoly suppliers are examined. Means of avoiding or minimising these dangers – consortia, alternative publishing methods, new economic models to promote competition – are examined
STRUCTURAL CHANGE: FARM AND FINANCIAL DIMENSIONS
Industrial Organization,
Business cycle fluctuations and the cost of insurrance in computable heterogeneous agent economies
In this paper I study the business cycle implications of alternative insurance technologies using a computable general equilibrium heterogeneous agent environment. I find that the limited monetary arrangement entails larger fluctuations in hours relative to productivity than those that obtain in an identical economy where every risk is costlessly insurable. I also find that in the monetary economy the price level displays a markedly countercyclical behavior. Finally I evaluate the welafare costs of the monetary self-insurance
arrangement
Stock-Returns and Inflation in a Principal-Agent Economy
We study a monetary in which final goods sell on spot markets, while labor and dividends sell through contracts. Firms and workers confuse absolute and relative price changes: A positive price-level shock makes sellers think they are producing better goods than they really are. They split this apparent windfall with workers who get a higher real wage. Hence, unexpected inflation shifts real income from firms (the principals) to workers (the agents) and thereby lowers stock-returns.MONEY SUPPLY ; PRICES ; STOCKS
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